This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Pepco Holdings Reports Third-Quarter 2012 Financial Results; Narrows 2012 Earnings Guidance Range

Reconciliation of GAAP Financial Information to Adjusted Financial Information

   
Three Months Nine Months
Ended Ended

Net Income from Continuing Operations – Millions of dollars

September 30,
September 30,
2012   2011 2012   2011
Reported (GAAP) Net Income from Continuing Operations $ 112   $ 80 $ 242   $ 237
Adjustments (after-tax):

--
 

Mark-to-market (gains)/losses from Pepco Energy Services retail energy economic hedging activities (($8) million, $5 million, ($20) million, and $12 million pre-tax, respectively)
(5 ) 3 (12 ) 7
-- Impairment charges related to Pepco Energy Services long-lived assets ($2 million and $5 million pre-tax, respectively)   1       -  

3
      -

Adjusted Net Income from Continuing Operations (Non-GAAP)
$ 108     $ 83 $ 233     $ 244
 
   
Three Months Nine Months
Ended Ended

Earnings per Share from Continuing Operations
September 30, September 30,
2012   2011 2012   2011
Reported (GAAP) Earnings per Share from Continuing Operations $ 0.49   $ 0.35

$
1.06   $ 1.05
Adjustments (after-tax):

--
 

Mark-to-market (gains)/losses from Pepco Energy Services retail energy economic hedging activities
(0.02 ) 0.01 (0.05 ) 0.03

--

Impairment charges related to Pepco Energy Services long-lived assets
  -       -   0.01       -
Adjusted Earnings per Share from Continuing Operations (Non-GAAP) $ 0.47     $ 0.36 $ 1.02     $ 1.08
 

The income tax effect with respect to the foregoing adjustments was calculated using a composite income tax rate of approximately 40 percent.

3 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,596.35 -350.33 -1.95%
S&P 500 2,057.64 -43.85 -2.09%
NASDAQ 4,958.4680 -122.0370 -2.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs